Monday, May 16, 2016

Gov admit to wanting landlords to 'squeal'

According to the RLA chairman, Alan Ward, a Government treasury minister admitted the aim of the Government's tax changes to BTL was to make private landlords 'squeal'.

Mr Ward recounts -

“We went to raise landlord’s concerns with specific reference to . . . the Government’s taxation policies towards private landlords. We wanted to make the case that we have a history of a significant contribution to housing and that this crackdown is unfair and prejudiced. The minister’s comment was that if landlords are squealing, then the Government will take the view that the medicine is working. The minister made the point that the Government is determined to increase the number of home owners, and then reiterated the issue about first-time buyers. We were all a bit taken aback by the comment. We could hardly believe our ears.”

2 comments:

But the big corporate machines can still operate outside of a lot of the rules the private landlord has to play by.

This is another example of policy allowing all your city mates with huge portfolios and hedge funds backing you to still invest but stops the small time player been able to get a foot hold in the market.

In the next breath they want people to plan for later life and are encouraging people not to just use traditional pension funds.

I am actually selling a number of properties at this moment partly because of this and partly cause of local authority long term partnering contacts with the likes of MEARS that just don't deliver value for money. Either for me or tax payers in the maintenance of social housing stocks and council owned freeholds.